TRADE AUDUSD: SELL@.71340 End Of Wave (iv) Into (v) +122 pips

This is a 4HR chart where you can see there was a nice long impulse wave down and since then, prices have been retracing it back up. But what is this retrace? When is it to end? Well, I'm thinking that retracement is over and a resumption of that trend has started. And I put my money where my chart is. I'm already SHORT on this pair and my members and I have already banked +122 pips while still making more pips as it continue it's decline. So since this trade is already profitable, why am I posting it now? Because I think there is still more, A LOT MORE pips to come. Let me explain....

WAVE COUNT
What I am showing in my wave count is that the last move down is a wave 5-wave wave c and that this wave c is not done yet. The current correction should be a wave (iv) of (v) of c. It seems to have unfolded in a WXY trading channel and that pattern may now be done. Which means that the wave (v) down has started. Within that wave (v), it is possible that we may now be starting the wave iii of (v).

PATTERNS
The dominant pattern has been the large POTENTIAL Bat that prices came close to completing last month but did not. It is still waiting to be completed. I mentioned that trading channel in my WAVE COUNTS section. That trading channel also happens to be a bear flag on a larger TF. Of which, prices are now starting to break through the bottom of that channel as of the time of this post. There are also 2 more POTENTIAL patterns here that are both showing that prices should decline. A cypher (blue) and a bat (green).

WHAT TO EXPECT
Expect that prices should break through the bottom TL decisively soon and descend in an impulsive fashion (on a smaller timescale). From there, it should continue to decline and complete both the cypher and the bat patterns before a retracement back up in a wave iv of (v) of c.

MY TRADE PLAN
I am still SHORT on this pair from .71340 and will be looking to add to my SHORT positions again after a sold break of the bear flag / trading channel.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.

Though I may not post here quite as often like before, I do continue to post much more to my own Facebook group (where I can BAN any TROLLS!). So if you would like to continue to see more of my posts as well as some of my trading tips, join my Facebook group at: www.facebook.com/efxselect. If you desire to receive ALL my analysis on pairs I trade and cover as well as REAL-TIME trade signals,

consider joining my private group and my members. You'll get REAL-TIME trade signals and analysis as the trade happens and discussions those trades live. Interested? Go to: efxselect.com for more info.

Faceb00k: goo.gl/Mb81w7
Website: www.efxselect.com to subscribe

Go to efxselect.com to subscribe and get these signals in REAL-TIME!